Web3 Paparo Dot Overview: Funding of the Web3 Foundation Is Distributed Into Two Types!

By Michael Head On Apr 14, 2022 0

For the media and advertising industries, Web3’s emphasis on decentralization and encryption solves some of the problems, if not all, and is the last thing that ad technology needs at this point. – My frustration with the web3 paparo dot has reached a boiling point, therefore I’ve started a thread expressing my thoughts on media and advertising in general. 1/21

The following week, I posted a Tweetstorm asking whether or not the so-called “web3” trend was applicable to media and advertising, and it became somewhat viral; Take a look at this:

This web3 shit is starting to annoy me, so here’s a thread with my opinions on the relevance to media and advertising. 1/21 🧵

— Ari Paparo (@aripap) December 23, 2021

What is Web3 Foundation?

The Foundation encourages Web 3.0 teams and open-source projects through funding, advocacy, research, and collaborations, which was formed by Dr. Gavin Wood in Switzerland.

Web3 Foundation realizes the management and exploitation of resources by financing high-quality projects. Among them, they mainly fund the research and development team that constructs decentralized network infrastructure. They mainly focus on the Web3.0 technology stack and the field of decentralized software protocols. These high-quality initiatives have had a long-term positive impact on the Web3.0 ecosystem.

The scope of funding initiatives of the Web3 Foundation is fairly extensive, including:

1. Development of the underlying infrastructure, such as alternative customer realization;

2. Ecosystem components, like as wallets;

3. Software developed to implement immediate use cases such as identity and supply chain modules.

Now, the Web3 Foundation has backed more than 100 initiatives in more than 20 countries. These financed projects are based on Polkadot substrate, and most of the economic model architecture is identical to the Polkadot network, which can allow on-chain upgrades.

[Thread] For media and advertising, Web3’s focus on decentralization and tokenization solves few, if any, problems and is the last thing ad tech needs (Ari Paparo Dot Eth/@aripap) https://t.co/KBGsJCJYyb

— Alex Hammer (@AIHammer) December 25, 2021

The funding of the Web3 Foundation is distributed into two types:

1. Routine projects: the highest limit is $100,000, which can be paid by legal currency or DOT;

2: Open projects: grant funding of up to $30,000 for modest technical initiatives, the funding is paid in bitcoin, and projects must be open source on Github.